State-owned National Aluminium Corporation (NALCO) reported a significant 76.3% increase in consolidated profit, reaching Rs 588.42 crore for the quarter ending June 2024. This is a notable rise compared to the Rs 333.76 crore profit recorded during the same period last year, as per the company’s exchange filing.
Despite the profit surge, NALCO’s consolidated income for the April-June 2024 period declined to Rs 2,916.62 crore from Rs 3,226.88 crore in the corresponding period of the previous year.
The company’s board has recommended a final dividend of Rs 2 per share for the fiscal year 2023-24, pending approval from shareholders at the upcoming annual general meeting. If approved, the dividend will be paid within 30 days of the declaration.
NALCO, recognized as a ‘Navratna’ company, is one of India’s largest producers in the bauxite, alumina, aluminium, and power sectors. The government holds a 51.28% stake in the company, which operates its Panchpatmali bauxite mines, alumina refinery, aluminium smelter, and captive power plant in Odisha.
